An investigation on behalf of investors of Apricus Biosciences Inc (NASDAQ:APRI) in connection with a potential takeover was announced and NASDAQ:APRI stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/21/2013 -- An investigation on behalf of investors, who currently hold NASDAQ:APRI shares, was announced concerning whether a takeover of Apricus Biosciences Inc would be unfair.
Investors who purchased shares of the Apricus Biosciences Inc (NASDAQ:APRI) and currently hold any of those NASDAQ:APRI shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm is at an early stage and concerns whether a potential takeover would be unfair to NASDAQ:APRI investors.
On May 14, 2013, Apricus Biosciences Inc disclosed that on May 14, 2013, the Board of Directors of Apricus Biosciences, Inc. voted to terminate Apricus Biosciences’ Shareholder Rights Agreement dated as of March 22, 2011, by and between Apricus Biosciences and Wells Fargo Bank, N.A., as rights agent.
Shares of Apricus Biosciences grew from $2.50 on May 14, 2013, to $3.409 on May 20, 2013.
However, given that NASDAQ:APRI shares traded in early 2012 as high as $5.49 and that at least one analyst has set the high target price for Apricus Biosciences shares at $8.00 per share, the investigation by a law firm concerns whether the Apricus Biosciences Board of Directors will undertake an adequate sales process, adequately shop the company before entering into any transaction, maximize shareholder value by negotiating the best price, and act in the shareholders' best interests in connection with the proposed sale.
Shares of Apricus Biosciences Inc closed on May 20, 2013, at $3.35 per share.
Those who are current investors in Apricus Biosciences Inc (NASDAQ:APRI) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego